Dena Bank Base Rate, Dena Bank MCLR Base Rate Past Trend

Current Dena Bank MCLR Base Rate

Last Updated 29th Nov 2016
Tenure Base Rate, MCLR
Overnight 9.15%
1 Month 9.25%
3 Month 9.30%
6 Month 9.35%
1 Year 9.40%
Current MCLR base rate of Dena Bank ranges from 9.15% to 9.40% depending on the reset frequency of the loan. Rates are revised every month.
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Dena Bank Interest Rates
Home Loan Interest Rates 9.40% * Floating
Loan Against Property Rates 11.10% * Floating
Personal Loan Interest Rates 13.00% *
Fixed Deposit Interest Rates 4.50% to 7.25% *

Past Trend Base Rate of Dena Bank

SBI base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
01st Nov 16
9.15%
9.25%
9.30%
9.35%
9.40%
-
-
-
01st Oct 16
9.10%
9.20%
9.30%
9.35%
9.45%
-
-
-
01st Sep 16
9.05%
9.15%
9.25%
9.35%
9.45%
-
-
-
01st Aug 16
9.10%
9.20%
9.30%
9.40%
9.50%
-
-
-
01st Jul 16
9.25%
9.35%
9.40%
9.50%
9.55%
-
-
-
01st Jun 16
9.30%
9.40%
9.45%
9.55%
9.60%
-
-
-
01st Apr 16
9.30%
9.40%
9.45%
9.50%
9.60%
-
-
-

Dena Bank base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, Dena Bank decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Dena Bank has different MCLR base rates ranging from 9.15% to 9.40% for different tenures

Changes in MCLR Base rate of Dena Bank

  • MCLR rate can be revised by Dena Bank every month
  • Note that it is not mandatory for Dena Bank to revise its rate every month and it may choose to retain the same rate for a longer period

Dena Bank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Dena Bank is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Dena Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Dena Bank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.60%. This loan will initially be priced at 10.1%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.35%, the loan will be priced at 9.85% for the next year

Past trend of Dena Bank Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
05th Oct 15 9.70% decreased by 0.3%
29th Sep 15: 0.5% repo cut by RBI
08th Jun 15 10.00% increased by 1.75%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
09th Feb 13 10.25%
29th Jan 13: 0.25% repo cut by RBI
21st May 12 10.45% increased by 0.2%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
04th Aug 11 10.70% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
02nd Jul 11 10.20% decreased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
06th May 11 9.95% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
02nd Feb 11 9.45% decreased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
15th Dec 10 8.95% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Nov 10 8.45% decreased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.2%

Dena Bank Base Rate Vs. RBI Repo Rate Trend

About Dena Bank

  • Dena Bank is a Public Sector Bank in India with 1,739 branches, 1,482 ATM's across the country.
  • Dena Bank's registered office is located at Dena Corporate Centre, C-10, G Block, Bandra-Kurla Complex, Bandra [E], Mumbai .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 2,448 crs. and Standalone net profit of Rs. 265 crs. Dena Bank reported total deposits of Rs. 115,936 crs and total advances of Rs. 80,629 crs.
  • Dena Bank's management is led by its CEO Mr. Ashwani Kumar.
  • Highest fixed deposit interest offered by Dena Bank is 7.25% per annum on deposits.
  • Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.
News - Dec 2016
01st Sep 16 Dena Bank has reduced its MCLR from 1st September, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) by 5 basis point (bps) across maturities. The 1 year MCLR has been reduced to 9.45 percent from the current rate of 9.5 percent. The 3 month and 6 month MCLR has been reduced to 9.25 percent and 9.35 percent respectively. Similarly the Overnight MCLR has been reduced to 9.05 percent. These changes are effective from 1st September, 2016. . For borrowers who have taken a home loan from Dena Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
01st Aug 16 Dena Bank has reduced its MCLR from 1st August, 2016
Dena Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st August 2016. The 1 year MCLR has been reduced by 5 basis points from 9.55 percent to 9.5 percent. The 3 month and 6 month MCLR has been reduced by 10 basis points to 9.3 and 9.4 percent respectively. Similarly the overnight and 1 month MCLR has been reduced by 15 basis points to 9.1 and 9.2 percent respectively. If you are a borrower of the Dena Bank and have taken loan after 1st April 2016, the reduction in loan rates should result in a lower interest burden and lower EMIs. However, if you have taken loan at fixed interest rate then you will not able to benefit by the rate cut.
13th Jun 16 Dena Bank reports Net Loss of Rs326.38 crore for Q4FY16
As per the result for Q4FY16, Dena Bank has reported Net Loss of of Rs.326.38 crore as the bank had to provide for higher provisions against bad loans. The loss was on account of a tax write-back of Rs.340.86 crore in the March quarter. The bank reported increase in Net Interest Income (NII) by 2.7 percent to Rs.625.17 crore, when compared on yoy basis. Non Interest Income of the bank also increased by 7.21 percent to Rs.215.87 crore. The Asset Quality showed signs of deterioration during the current quarter as Gross NPA in March quarter increased to 9.98 percent from 5.45 percent in year ago period. Net NPAs increased to 6.35 percent against 3.82 percent in previous quarter. Provision for NPA increased to 200 percent in March quarter to 1094.24 crore when compared on yoy basis.
14th May 16 Dena Bank reports net loss of Rs. 326.38 crore for the March quarter
Dena Bank reported a net loss of Rs. 326.38 crore for the March quarter due to higher provisions for bad loans. The loss was restricted due to a tax write back of Rs. 340.86 crore in the quarter. The lender reported a profit of Rs. 55.82 crore in the March 2015 quarter. Bad loans continued to rise as banks reclassified stressed assets. Gross NPAs surged to Rs. 8560.49 crore at the end of the March quarter.
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